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The S&P 500 and the Nasdaq Composite climbed Wednesday, powered by tech shares after a federal court decision allowed Google to keep its Chrome browser.
Optimism around a looming rate cut by the Federal Reserve also buoyed markets, with the CME Fedwatch tool indicating a 96.6% chance of a Fed rate cut in its September meeting later this month.
However, weak economic data seems to hang like a dark cloud over investors. Job openings ticked down in July to levels rarely seen since the Covid-19 pandemic, bolstering fears of cooling in the labor market.
The Job Openings and Labor Turnover report showed around 7.18 million listings in July, according to data from the Bureau of Labor Statistics released Wednesday. That’s only the second reading under the 7.2 million level since the end of 2020.
